Automotive Surround View System Market Size - Product (4 Camera System, 6 Camera System), Vehicle (Passenger Car, Commercial Vehicle), Fuel, Component (Cameras, Control Unit, Display Unit, Software), Application, End-Use & Forecast, 2024 - 2032

Automotive Surround View System Market Size

Automotive Surround View System Market size was valued at USD 3.3 billion in 2023 and is estimated to register a CAGR of over 14.5% between 2024 and 2032. The market growth is driven by the increasing adoption of autonomous vehicles. As the industry moves toward self-driving cars, the demand for advanced safety and navigation systems is increasing. Surround-view systems, which provide a 360-degree view of the vehicle's surroundings, are critical for ensuring safety in autonomous vehicles. These systems help in obstacle detection, lane departure warnings, and parking assistance, making them indispensable in the development of autonomous driving technology.
 

For instance, in June 2024, Rimac introduced a new Level 4 autonomous electric car brand called Verne, slated to hit the market in 2026. Verne leverages Mobileye’s Level 4 autonomy system, positioning the vehicle platform as the core technology rather than the autonomous driving system itself. Increasing adoption of these vehicles will provide significant market opportunities for the market.
 

Moreover, the increasing focus on pedestrian safety is driving the market growth for the automotive surround view system market. With the rise in urbanization, the number of pedestrians in city areas is growing, leading to higher risks of accidents. Automotive manufacturers are integrating surround view systems to enhance pedestrian detection and prevent collisions. These systems offer a clear view of the vehicle's surroundings, allowing drivers to detect pedestrians and other obstacles more effectively. As regulatory bodies emphasize pedestrian safety, the adoption of surround-view systems is expected to grow, further driving market expansion.
 

The high cost of automotive surround view systems are hindering the market growth. These systems require multiple cameras, sensors, and advanced software, leading to increased production costs. For many consumers, especially in developing markets, the added cost of surround view systems makes vehicles less affordable. This cost barrier limits the adoption of these systems, particularly in low and mid-range vehicles. As a result, the market's growth is hindered by the reluctance of cost-conscious consumers to invest in vehicles equipped with these advanced systems.
 

Automotive Surround View System Market Trends

The rising consumer demand for advanced parking assistance systems is a key growth driver for the automotive surround view system industry. As urbanization leads to more crowded and confined parking spaces, drivers seek technologies that make parking easier and safer. Surround view systems provide a 360-degree view of the vehicle’s surroundings, helping drivers navigate tight spaces and avoid obstacles. This technology significantly reduces the risk of parking-related accidents and enhances the overall driving experience.
 

Additionally, the growing trend of integrating these systems with other parking assistance features, such as automatic parking and sensor-based alerts, further boosts their appeal to consumers, driving the adoption of surround view systems across various vehicle segments.
 

The increasing adoption of electric vehicles (EVs) is another significant driver for the automotive surround view system market. As the global shift towards sustainability accelerates, EV manufacturers are incorporating advanced safety and driver assistance technologies to attract environmentally conscious consumers. These systems play a crucial role in enhancing the safety and convenience of EVs, particularly in urban environments where precise maneuvering is essential.
 

According to the International Energy Agency, Electric car sales in 2023 saw a year-on-year increase of 35%, with 3.5 million more units sold compared to 2022. Additionally, the integration of surround view systems with the latest EV technologies, such as autonomous driving and AI-powered navigation, further enhances their value proposition. As the EV market continues to grow, the demand for surround view systems are expected to rise, contributing to the market's expansion.
 

Automotive Surround View System Market Analysis

Based on vehicles, the market is categorized as passenger cars and commercial vehicles. In 2023, the passenger car segment accounted for a market share of around 70% and is projected to grow by 2032. The passenger car segment dominates the automotive surround view system market due to the growing consumer demand for safety and convenience features. As more consumers prioritize vehicle safety, automotive manufacturers are increasingly incorporating surround view systems as standard or optional features in passenger cars.
 

These systems enhance driving safety by providing a comprehensive view of the vehicle's surroundings, assisting in parking, lane changes, and obstacle detection. The rising trend of incorporating advanced driver-assistance systems (ADAS) in passenger cars is expected to drive further growth in the adoption of surround view systems within this segment.
 

Based on end-use, the automotive surround view system market is divided into OEM and aftermarket. In 2023, the OEM segment accounted for a market share of around 64%. The OEM segment holds a major market share in the market, due to the growing trend of integrating advanced safety features directly into new vehicles. As automotive manufacturers strive to differentiate their products in a competitive market, the inclusion of surround view systems as standard or optional equipment has become increasingly common.
 

Additionally, OEMs are focusing on offering these systems to enhance vehicle safety and driver convenience, catering to the rising consumer demand for high-tech features. This trend is expected to drive the adoption of surround view systems across a broad range of vehicle models.
 

North America dominated the automotive surround view system market with a major share of over 35% in 2023. The market growth is driven by stringent vehicle safety regulations and the high adoption rate of advanced driver-assistance systems (ADAS). Consumers in this region prioritize safety features in their vehicles, leading to a strong demand for surround view systems.
 

Additionally, the presence of key automotive manufacturers and a robust market for luxury and high-end vehicles further support the growth of surround view systems. The trend toward autonomous driving technology in North America further contributes to the increasing adoption of these systems, driving market growth.
 

The European Union's stringent safety regulations, such as mandatory inclusion of advanced driver-assistance systems (ADAS) in new vehicles, drive the adoption of surround view systems. This regulatory environment, combined with high consumer demand for premium safety features and the region's focus on reducing road accidents, significantly boosts the market for surround view systems in Europe.
 

Automotive Surround View System Market Share

Magna and Continental are the major market players operating in the global automotive surround view system industry accounting for over 30% of market share in 2023.  Magna focuses on innovation and technology to maintain its competitive edge. The company invests heavily in R&D to enhance its surround view camera systems, integrating advanced features such as machine learning and AI for improved object detection and safety.
 

Magna further collaborates with automotive OEMs to deliver customized surround view solutions, ensuring they meet the specific needs of different vehicle models. By continuously advancing its technology and forming strategic partnerships, Magna remains a key player in the surround view system market.
 

Continental is a major competitor in the automotive surround view system market, leveraging its expertise in sensor technology and ADAS to stay ahead. The company focuses on enhancing the functionality of its surround view systems by integrating them with other safety and driver-assistance technologies, such as lane departure warnings and adaptive cruise control. Continental also emphasizes cost-effective solutions, making its systems accessible to a broader range of vehicles.
 

Automotive Surround View System Market Companies

Major players operating in the automotive surround view system industry are:

• Continental AG
• Robert Bosch GmbH
• Valeo S.A.
• Magna International Inc.
• Panasonic Corporation
• Sony Corporation
• NXP Semiconductors N.V.
• Texas Instruments Incorporated
• Omnivision Technologies, Inc.
• Gentex Corporation
• Renesas Electronics Corporation
   

Automotive Surround View System Industry News

• In January 2024, Renesas Electronics Corporation announced the latest addition to its Automotive HD Link (AHL) portfolio. The new RAA279974 4-channel AHL video decoder is designed to process four input sources simultaneously, offering an affordable solution for surround-view and multi-camera applications. This innovation enables automotive manufacturers to deliver high-definition video using low-cost cables and connectors.
   
• In January 2023, ZF launched the Smart Camera 6, designed for Automated Driving and ADAS systems. This new camera boasts a 120-degree field of view and over four times the image resolution of its predecessor, with an 8-megapixel sensor and enhanced processing power to support advanced functionalities.
   

The automotive surround view system market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue ($Mn) from 2021 to 2032 for the following segments:

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Market, By Product

• 4 Camera System
• 6 Camera System
• Others

Market, By Vehicle

• Passenger cars
  • Hatchback
  • Sedan
  • SUV
  • Others
• Commercial vehicle
  • Trucks
  • Bus

Market, By Fuel

• Gasoline
• Diesel
• All-electric
• PHEV
• HEV

Market, By Component

• Cameras
• Control Unit
• Display Unit
• Software

Market, By Application

• Parking Assistance
• Blind Spot Detection
• Lane Departure Warning
• ADAS Integration

Market, By End-Use

• OEM
• Aftermarket

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Southeast Asia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America 
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA